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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950124-01-502436.txt : 20010730
<SEC-HEADER>0000950124-01-502436.hdr.sgml : 20010730
ACCESSION NUMBER:		0000950124-01-502436
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20010727
ITEM INFORMATION:		
ITEM INFORMATION:		
FILED AS OF DATE:		20010727

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KOSS CORP
		CENTRAL INDEX KEY:			0000056701
		STANDARD INDUSTRIAL CLASSIFICATION:	HOUSEHOLD AUDIO & VIDEO EQUIPMENT [3651]
		IRS NUMBER:				391168275
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		
		SEC FILE NUMBER:	000-03295
		FILM NUMBER:		1690471

	BUSINESS ADDRESS:	
		STREET 1:		4129 N PORT WASHINGTON AVE
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53212
		BUSINESS PHONE:		4149645000

	MAIL ADDRESS:	
		STREET 1:		C/O WHYTE HIRSCHBOECK DUDEK S C
		STREET 2:		111 EAST WISCONSIN AVENUE
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KOSS ELECTRONICS INC
		DATE OF NAME CHANGE:	19721005

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	REK O KUT CO INC
		DATE OF NAME CHANGE:	19680124
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>c64006e8-k.txt
<DESCRIPTION>CURRENT REPORT DATED 7/27/01
<TEXT>

<PAGE>   1
================================================================================



                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT
                         PURSUANT TO SECTION 13 OR 15(d)
                   OF THE SECURITIES AND EXCHANGE ACT OF 1934


                                  JULY 27, 2001
                                (Date of Report)


                                KOSS CORPORATION
             (Exact name of registrant as specified in its charter)


    DELAWARE                        0-3295                          39-1168275
 (State or other               (Commission File                    (IRS Employer
 jurisdiction of                    Number)                         ID Number)
 incorporation)


                        4129 NORTH PORT WASHINGTON AVENUE
                           MILWAUKEE, WISCONSIN 53212

                    (Address of principal executive offices)



                                 (414) 964-5000
              (Registrant's telephone number, including area code)



================================================================================







<PAGE>   2



         This report includes "forward-looking statements" within the meaning of
Section 27A of the Securities Act and Section 21E of the Securities Exchange Act
of 1934, as amended. All statements other than statements of historical facts
included in this report are forward-looking statements. Forward-looking
statements are inherently subject to risks and uncertainties, some of which
cannot be predicted or quantified based on current expectations. Consequently,
future events and actual results could differ materially from those set forth
in, contemplated by, or underlying the forward-looking statements contained in
this report, other filings, press releases or otherwise.
         Although the Company believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance that such
expectations will prove to have been correct. Important factors that could cause
actual results to differ materially from such expectations ("Cautionary
Factors") include, without limitation, unanticipated developments in any one or
more of the following areas: the profitability of the Company, capital
requirements, operational costs, business opportunities, tax considerations,
general economic conditions, consumer demand for the Company's and its
customers' products, competitive and technological developments, foreign
currency fluctuations, restrictions in any then-existing credit agreements, and
other risks factors which may be detailed from time to time in the Company's
Securities and Exchange Commission filings. All subsequent written or oral
forward-looking statements attributable to the Company or persons acting on
behalf of the Company are expressly qualified in their entirety by the
Cautionary Factors. Shareholders, potential investors and other readers are
urged to consider these Cautionary Factors carefully in evaluating the
forward-looking statements and are cautioned not to place undue reliance on such
forward-looking statements.

ITEM 5.  OTHER EVENTS

         PRESS RELEASE. On July 25, 2001, Koss Corporation issued a Press
Release announcing its intention to begin paying quarterly dividends with the
quarter ending September 30, 2001. The First Quarterly Dividend will be $0.25
per share payable to shareholders of record on September 30, 2001. Quarterly
dividend payments will be made on the fifteenth day following the end of each
calendar quarter. A copy of said Press Release is attached hereto as Exhibit
99.1 and is incorporated herein by this reference.


ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS

         (c)      Exhibits:

                  99.1     Press release announcing beginning of quarterly
                           dividend payments.



<PAGE>   3



                                   SIGNATURES


         Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.

                                    KOSS CORPORATION
                                    (Registrant)


                                    By:  /s/ Michael J. Koss
                                         ---------------------------------------
                                         Michael J. Koss
                                         President, Chief Executive Officer
                                         and Chief Financial Officer


Date: July 27, 2001


<PAGE>   4



                                KOSS CORPORATION
                                  EXHIBIT INDEX
                                       TO
                           CURRENT REPORT ON FORM 8-K

<TABLE>
<CAPTION>

  EXHIBIT NUMBER                             DESCRIPTION                             INCORPORATED    FILED HEREWITH
  --------------                             -----------                              HEREIN BY      --------------
                                                                                      REFERENCE
                                                                                      ---------
<S>                 <C>                                                             <C>             <C>


       99.1         Press release announcing beginning of quarterly dividend                               X
                    payments.

</TABLE>



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>c64006ex99-1.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>

<PAGE>   1







                                                                    Exhibit 99.1

KOSS
NEWS RELEASE
Koss Corporation                            CONTACT: Michael J. Koss
4129 N. Port Washington Ave.                         President and CEO
Milwaukee, Wisconsin  53212                          414-964-5000
                                                     email: mjkoss@koss.com


                    **********FOR IMMEDIATE RELEASE**********

July 25, 2001

             KOSS TO PAY DIVIDEND AND INCREASE STOCK BUYBACK PROGRAM

MILWAUKEE, WISCONSIN: Koss Corporation (NASDAQ SYMBOL:KOSS), the U.S. based
leader in high-fidelity stereophones, has announced that it would begin to pay a
quarterly cash dividend to its shareholders. The news follows an announcement by
the Company last week that it had recorded record sales of its stereophone
product line, record net income and record earnings per share of $2.55 for its
fiscal year ending June 30, 2001. The quarterly dividend will be $0.25 per share
payable on October 15, 2001 to shareholders of record on September 30, 2001.

"This is the first time we have paid a dividend to shareholders since 1983,"
Michael J. Koss, President and CEO, said here today. "We anticipate the ability
to continue paying a quarterly dividend in future years but caution investors
not to expect any annual increase in the current rates in the foreseeable
future."

Koss went on to explain that capital deployment on new products, new product
lines, the repurchase of undervalued shares of its stock, and potential long
term acquisitions, are all factors which will impact the Company's decision as
to whether to continue to pay quarterly dividends and the amount of future
dividend payments. Koss further noted that although the Company has expressed
its intention to continue to pay cash dividends for future quarters, there can
be no assurance that the Company will continue to pay dividends. The future
payment of dividends, and the amount of such dividends if any are paid, is
within the sole and exclusive discretion of the Board of Directors. Future
payment of any dividends by the Company will depend upon numerous factors,
including the profitability of the Company, capital requirements, operational
costs, business opportunities, tax considerations, general economic conditions,
consumer demand for the Company's and its customers' products, competitive and
technological developments, foreign currency fluctuations, restrictions in any
then-existing credit agreements, and other factors that the Board of Directors
may deem relevant.

The Company has also announced that its Board of Directors has approved the use
of an additional three million dollars to repurchase undervalued shares of the
company stock.

Koss Corporation markets a complete line of high-fidelity stereophones,
speaker-phones, computer headsets, telecommunications headsets, active noise
canceling stereophones, wireless stereophones, and compact disc recordings of
American Symphony Orchestras on the Koss Classics label.

This press release contains statements as to the Company's intention to pay
quarterly cash dividends in the future. These statements constitute
"Forward-looking statements" which are subject to many uncertainties in the
Company's operations and business environment. Some of these uncertainties are
identified above in this release. Shareholders, potential investors and other
readers are urged to consider these factors carefully in evaluating the
forward-looking statements and are cautioned not to place undue reliance on such
forward-looking statements. The forward-looking statements made herein are only
made as of the date of this press release and the company undertakes no
obligation to publicly update such forward-looking statements to reflect
subsequent events or circumstances. In addition, such


<PAGE>   2


uncertainties and other operational matters are discussed further in the
Company's quarterly and annual filings with the Securities and Exchange
Commission.

                                      # # #





</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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